2002 - 10-07-02 Regular Meeting - Laserfiche WebLink

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Bun" 9 FACE COUNTY OF LEE STATE OF NORTH CAROLINA October 7, 2002 RESOLUTION LEVYING THE THIRD ONE-HALF CENT (1/2¢) LOCAL GOVERNMENT SALES AND USE TAX AND PRESCRIBING THE METHOD OF DISTRIBUTION OF THE PROCEEDS WITHIN LEE COUNTY WHEREAS, the General Assembly has authorized the Lee County Board of Commissioners to levy a one-half percent (1/2%) local sales and use tax by enacting N.C.G.S. 105-517(b) in Section 34.14(x) of Session Law 2001-424, as amended by S.L. 2002-123, "An Act to Accelerate the Additional One-half Cent (1/2¢) Local Option Sales and Use Tax and to Make Conforming and Technical Changes," and WHEREAS, the Lee County Board of Commissioners gave proper public notice of the Board's intent to consider this resolution, as required by Section 10 of S.L. 2002- 123, and WHEREAS, Lee County has lost 51,638,694.00 in funds made available by the State of North Carolina to replace revenue lost because of legislative action: (1) to repeal sales taxes imposed on purchases made with Food Stamps; (2) to repeal property taxes imposed on inventories held by manti Facturers, retailers and wholesalers; (3) to repeal taxes on intangible personal property; and (4) to reduce taxes levied on residential property owned by low-income elderly taxpayers; and WHEREAS, the Lee County Board of Commissioners hereby finds that, particularly in light of the circumstances cited herein, the levy of "The Third One-Half Cent (1/2¢) Local Government Sales and Use Tax" is necessary to adequately finance the operations of the county and the cities and towns herein. NOW, THEREFORE, BE IT RESOLVED by the Lee County Board of Commissioners that: (1) There is hereby imposed and levied within Lee County the third one-half cent (1/2¢) Local Government Sales and Use Tax authorized by Section 34.14(a) of S.L. 2001-424, as amended by S.L. 2002-123, and codified as Article 44 of Chapter 105 of the General Statutes of North Carolina. The tax hereby imposed and levied shall apply to the same extent and be subject to the same limitations as are set forth in said S.L. 2001-424.